Posted on 09/16/2023 6:42:40 AM PDT by where's_the_Outrage?
I'm often blamed for complaining about my student-loan debt.
But I was never taught financial literacy, and I built up debt as a kid based on misguided advice.
I was trained to believe the more expensive colleges were better.
After a three-year pause, my student-loan repayments are starting again, and I'll be paying $350 a month.
During the payment pause, I've finally been able to save up a chunk of money for a down payment on a house. It's been my goal to buy a condo and rent it out on Airbnb as an investment. But now I won't be able to afford that down payment because any extra money I have won't go toward my savings but instead toward my $35,000 in student-loan debt. I have to put my dreams on hold.
When I wrote about this recently, a lot of readers reached out with their thoughts. Most emails I received accused me of wanting a handout and blamed me for my debt. One person told me I shouldn't have taken out all that money in student loans for college if I didn't want to pay it back.
Even though I made a mistake when I took out my student loans, people should know it's more nuanced than that......
Unfortunately, I'm now stuck with a stupid decision I made as a kid.
(Excerpt) Read more at businessinsider.com ...
DING DING DIND the slow ones hit hardest.
Sux to be u/
I’d like my college professors to cost me nothing.
College Graduate
I’d like my college-educated employees to cost me nothing.
Employer of College Graduates
I'll be paying $350 a month.
You borrowed the money - you pay it back.
Bozo is whining about how much debt he owes based on his borrowing practices. In the meantime, I’d love to see the investments I could make if the government weren’t stealing half of my earnings through the various forms of taxation.
But once you’re an adult (that is, have reached age 18), you are responsible for your own education. Financial literacy has never been more available, 24/7/365, in everyone’s pocket than now.
“Unfortunately, I’m now stuck with a stupid decision I made as a kid.”
BS. Young adults are not kids.
This twirp acts like $35,000 is more than anyone owes.
Martin Luther King, Jr.
That is the Democrat way.
“””But I was never taught financial literacy, and I built up debt as a kid based on misguided advice.”””
Blaming somebody else for one’s own actions is an example of a person who thinks they are smart when in fact they are very stupid.
He spells it out in another article that is linked in this article. He has a journalism degree making $55K living somewhere in NYC. That is paycheck to paycheck living for NYC.
College is expensive because liberals who couldn’t make it in the real work can go and take six figure salaries with gold-plated benefits and gold pensions.
They they keep jacking up tuition for useless degrees that students sign up for because it makes them feel morally superior.
When it turns out the thing can’t sustain itself, they look to Uncle Sugar to bail them out.
Solution - 1. End all federal and state student loans and subsidies. 2. - I've said in past threads, make it EASY for students and parents who signed for student loans to get bankruptcy protection. Make the banks and schools eat the debt!!!. These institutions would then think twice about lending money to poor security risks. These 2 steps would greatly curb loan defaults IMHO/
So he expects the rest of us to pay off his student loan, right? So he can have the $$ for himself.
You learned a hard lesson, kid.
I paid off all remaining student loans - but two people had to die before I was able to do that. I didn’t consider the use of the money for anything else.
My husband used the money he got from his father’s death to pay off his remaining student loans.
Your comment hit resonance frequency with me. I too, know the financial pain of marrying the wrong woman. I could have put two kids through Harvard with the money I paid in my divorce.
I don't support bail outs, but it would serve the free trade boomers right if they did get stuck with the tab after all of this.
While I know this is the last place for any sympathy on the topic I do have one slice of empathy - ONLY because the entire education system is a mess. These kids are brainwashed (by adults) into believing that college is the only way to earn a living and then enter into an inherited system that is so bloated with costs their resulting debt is far beyond what it should be.
You should NEVER be able to pay for an entire degree with loans for majors that will NEVER pay you back. There should be some form index for each major - defining a cap on the amount that can be loaned. STEM degrees should allow for higher loan caps, while arts degrees should have lower. If you REALLY want an art degree then find another way to pay.
Also, get rid of 80% the administrators and lower the cost. Most of our woke culture problems come from too much funding of useless admins and degrees. We’re literally feeding the beast with taxpayer based loans. Do I get to see a return on these loans? No. Of course, my student loan also had the highest interest rate of any loan I’ve ever had.
Yes, 18 year olds are old enough to understand the contract they’re signing up for but this whole system needs a massive overhaul...it’s the system WE are handing them.
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